Farm inheritance tax: Bid to soften change rejected by Treasury

Published On Nov 14, 2024, 4:08 AM

The UK government's new regulation will end the inheritance tax exemption for farms valued over £1 million, effective April 2026. This policy change has been criticized by the National Farmers' Union as disastrous for farmers, with concerns that it could force land sales to pay taxes and negatively impact the next generation of farmers.

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This tax change could lead to financial strain on farming operations, potentially affecting agricultural production negatively. Farmers may be forced to liquidate assets, including land, to cover the increased inheritance tax burden.

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